Imperial Logistics acquires 49% stake in healthcare services company Pharmafrique

SOUTH AFRICA – Imperial Logistics Ltd, an African and European focused provider of integrated market access and logistics solutions, has acquired a 49% stake in Pharmafrique, trading as Kiara Health an African pharmaceutical manufacturing and healthcare services company based in Johannesburg. Imperial says the investment is in line with the group’s strategy to backward integrate into contract manufacturing as part of its market access service to multinationals on the continent. “Kiara’s aspiration to deliver world class medical solutions to all patients on the African continent resonates strongly with Imperial’s purpose…

Read More

Transnational Bank renames to Access Bank Kenya after being completely acquired by Access Bank

KENYA – Access Bank, a Nigerian multinational commercial bank, has renamed Transnational Bank a medium sized commercial bank that mainly focuses on Kenya’s agricultural sector, after it completed its acquisition, reports Business Daily. Central Bank of Kenya said that the Kenyan lender will now be known as Access Bank (Kenya), indicating the end of the buyout deal. “Transnational Bank PLC has, by resolution of the Board and the approval of the Registrar of Companies, effected a change of name from Transnational Bank PLC to Access Bank (Kenya) Public Limited Company,…

Read More

Stanlib acquires 10% stake in renewable energy developer Mulilo Energy

SOUTH AFRICA – The Infrastructure Investments unit of South African asset manager Stanlib has bought a 10% stake in local renewable energy developer Mulilo Energy Holdings. A joint statement emphasises that this transaction is strategic and complementary to both companies. “It provides Mulilo with a robust financial partner that has an appetite to invest in new developments and planned growth. Similarly, it offers STANLIB access to a leading South African renewable energy platform with a strong development pipeline, of close to 3GW of large-scale wind and solar PV projects,” reads…

Read More

Axis Holdco acquires HMG and HMA subsidiaries of asset manager Harel Mallac Co

MAURITIUS – Axis Holdco, a private limited company, has acquired Harel Mallac Global (HMG) and Harel Mallac Advisory (HMA), subsidiaries of Harel Mallac Co, a company that is involved in the manufacturing and trading, business service as well as asset management businesses. The transaction has already received regulatory approval and completed on August 21, 2020. As part of this process, HMG and HMA are respectively being rebranded to Axis Global Services and Axis Corporate Services.  “This is a yet another milestone for the firm as it seeks to achieve its…

Read More

Standard Bank acquires 35% equity stake in digital escrow company TradeSafe Escrow

South Africa’s Standard Bank maintains position as Africa’s Top Tier 1 Bank

SOUTH AFRICA – The Standard Bank of South Africa Limited, a financial services group, has acquired a 35% equity stake in digital escrow company TradeSafe Escrow, providing a means for buyers and sellers to mitigate transaction fraud. TradeSafe is an online escrow platform that safeguards the buyer’s funds in trust in a transaction involving two or more parties. Established in 2013, TradeSafe is the longest running digital escrow company in South Africa. The firm was also the first digital escrow organisation in the world to offer an API gateway which…

Read More

Shanta Gold Ltd completes acquisition of Barrick Gold’s asset in AEKL

EAST AFRICA – Shanta Gold Limited, an East Africa-focused gold producer, has completed its acquisition of the Acacia Exploration (AEKL) Kenyan gold assets from Barrick Gold. It follows the receipt of regulatory approvals in Kenya, which now satisfied all remaining closing conditions of the transaction. The primary asset is the West Kenya project, which has a resource currently pegged at just under 1.2mln ounces. With a grade of 12.6 grams per tonne, the project has been described as ‘the highest grade million ounce-plus project under development anywhere in Africa’. The…

Read More

Namibia’s Ohlthaver & List Group acquires majority stake in Germany’s renewable energy company

NAMIBIA – The Ohlthaver & List (O&L) Group, Namibia’s largest private company, has acquired the majority stake in Cronimet Mining Power Solutions GmbH, from the exiting shareholder CRONIMET Mining AG of Switzerland, thereby growing its operations into the international market beyond the south Western African country. Cronimet Mining Power Solutions GmbH is a German-based renewable energy project development, Engineering-Procurement-Construction (EPC), investment and asset management company. O&L Group Executive Chairman, Sven Thieme and Chief Executive Officer (CEO), Wessie van der Westhuizen welcomed the new member to the O&L family and portfolio.…

Read More

Building materials company Afrimat acquires 25% shareholding in Coza Mining

SOUTH AFRICA – ArcelorMittal South Africa (AMSA), a steel producer, has reached an agreement to sell its 25% shareholding in Coza Mining, held through subsidiary Oakwood Trading, to Afrimat, a Building materials and industrial minerals group for R300 million (US$17.21m), in an effort to grow its footprint in the Northern Cape. Coza’s principal activities are exploring and prospecting for iron ore and manganese in the Northern Cape, and it is focused on three properties, Jenkins, Driehoekspan and Doornpan. Afrimat said the transaction allows it to secure high-quality iron ore close…

Read More

Black female owned firms acquire engineering entity of Mott Macdonald Africa

SOUTH AFRICA – Malani Padayachee & Associates (MPA), an engineering and consulting firm, and investment holding company Motseng Women Investments have announced the 100% acquisition of Mott MacDonald Africa, the South African engineering entity of Mott MacDonald This opportunity presented itself when the transaction parties explored opportunities to expand their market share, seek economies of scale and reshape the industry. Upon realising the synergies between the companies, as well as the shared principles and values that underpin their business practices, the acquisition was the natural next step, the companies note.…

Read More

Equity Group completes transaction of acquisition of majority stake in BCDC

KENYA – Equity Group Holdings PLC has announced the completion of its acquisition of 66.53% stake in the Banque Commerciale Du Congo (BCDC) at a cost of US$95 Million. Equity Group now has two subsidiaries in the Democratic Republic of Congo having earlier acquired ProCredit, a German bank, now Equity Bank Congo. BCDC is the oldest bank in the country, having been established in 1909. “We have been fortunate to have had the opportunity to acquire two of the most solid banks in the market,” said Dr.  Mwangi, the Group…

Read More